Question 1

When purchasing products, business customers are especially concerned about quality, service, price, and supplier relationships.

Accepted Answer

A) True 
 B)False  True

Question 2

In business markets, individuals or groups purchase products for one of three purposes. These purposes are

Accepted Answer

A) resale, wholesale, and direct use. 
B) wholesale, direct use, and use in producing other products. 
C) resale, wholesale, and use in producing other products. 
D) resale, direct use in producing other products, and use in general daily operations. 
E) use in general daily operations, wholesale, and resale. 
A) resale, wholesale, and direct use. 
B) wholesale, direct use, and use in producing other products. 
C) resale, wholesale, and use in producing other products. 
D) resale, direct use in producing other products, and use in general daily operations. 
E) use in general daily operations, wholesale, and resale. D

Question 3

In what ways do environmental factors affect the business buying decision process?

Accepted Answer

Environmental factors include competitive and economic factors, political forces, legal and regulatory forces, technological changes, and sociocultural issues. These factors can generate considerable uncertainty for an organization, including in buying decisions. Changes in one or more environmental forces, such as new government regulations or increased competition, can create opportunities and threats that affect purchasing decisions.

Question 4

A buyer for Macy's Department Stores orders handbags from a supplier because that supplier allows the buyer to maintain Macy's company policy of 30-day advance purchase notice. This is an example of ____ influence on the business buying decision process.

Accepted Answer

A) environmental 
B) organizational 
C) interpersonal 
D) individual 
E) demographic 
A) environmental 
B) organizational 
C) interpersonal 
D) individual 
E) demographic

Question 5

During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way.

Accepted Answer

A) cost 
B) value 
C) profit 
D) strategic 
E) SWOT 
A) cost 
B) value 
C) profit 
D) strategic 
E) SWOT

Question 6

Which of the following products is most likely to be purchased on the basis of contract negotiation?

Accepted Answer

A) Eggs 
B) Office supplies 
C) Used cars 
D) A custom-made bulldozer 
E) Wheat 
A) Eggs 
B) Office supplies 
C) Used cars 
D) A custom-made bulldozer 
E) Wheat

Question 7

In its purchase of desktop business computers, Albertson's asked that potential suppliers provide information only on units with 8GB of memory. As Albertson's management evaluates this purchase, it finds that 8GB is inadequate for many of the software programs used at Albertson's. In this instance, the firm would need to modify which aspect of the purchase process?

Accepted Answer

A) Searching 
B) Specification development 
C) Alternative evaluation 
D) Selection 
E) Performance evaluation 
A) Searching 
B) Specification development 
C) Alternative evaluation 
D) Selection 
E) Performance evaluation

Question 8

Which of the following is true with respect to buyers in business markets?

Accepted Answer

A) Business buyers always act rationally when making purchases for their company. 
B) Business customers tend to be less informed about the products they purchase than consumer buyers. 
C) Business customers demand detailed information about a product's functional features and technical specifications. 
D) Business customers are no different than buyers in consumer markets. 
E) Business customers tend to buy products from their friends and contacts with business suppliers. 
A) Business buyers always act rationally when making purchases for their company. 
B) Business customers tend to be less informed about the products they purchase than consumer buyers. 
C) Business customers demand detailed information about a product's functional features and technical specifications. 
D) Business customers are no different than buyers in consumer markets. 
E) Business customers tend to buy products from their friends and contacts with business suppliers.

Question 9

Most business buying decisions are made by

Accepted Answer

A) one person. 
B) a team of purchasing agents. 
C) a firm's buying center. 
D) inventory control personnel. 
E) the sales force. 
A) one person. 
B) a team of purchasing agents. 
C) a firm's buying center. 
D) inventory control personnel. 
E) the sales force.

Question 10

If a business product exceeds specifications, so much the better; the customer can then be assured of obtaining a minimum level of acceptability.

Accepted Answer

A) True 
 B)False

Question 11

Explain how purchase decisions for business products may be influenced by persons in a buying center.

Accepted Answer

Purchase decisions are made by a single

Question 12

Inspection refers to a purchasing method in which a representative unit is taken from a lot and evaluated, and the buying decision is based on the conclusions.

Accepted Answer

A) True 
 B)False

Question 13

In a buying center, purchasing agents or purchasing managers are also known as

Accepted Answer

A) gatekeepers. 
B) deciders. 
C) buyers. 
D) users. 
E) influencers. 
A) gatekeepers. 
B) deciders. 
C) buyers. 
D) users. 
E) influencers.

Question 14

Goodyear is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Goodyear's tire products is said to be ____ since it depends on the demand for new cars.

Accepted Answer

A) inelastic 
B) fluctuating 
C) derived 
D) elastic 
E) nonderived 
A) inelastic 
B) fluctuating 
C) derived 
D) elastic 
E) nonderived

Question 15

All of the following are important concerns of business customers except

Accepted Answer

A) achieving a specific level of quality in the products offered to target markets. 
B) obtaining a level of quality that meets specifications. 
C) obtaining products that exceed specifications to ensure the best possible product performance. 
D) obtaining products for which the quality level is consistent. 
E) supporting customers with services they expect. 
A) achieving a specific level of quality in the products offered to target markets. 
B) obtaining a level of quality that meets specifications. 
C) obtaining products that exceed specifications to ensure the best possible product performance. 
D) obtaining products for which the quality level is consistent. 
E) supporting customers with services they expect.

Question 16

Demand for business products is also known as ____ demand.

Accepted Answer

A) derived 
B) corporate 
C) business buying 
D) manufacturing 
E) industrial 
A) derived 
B) corporate 
C) business buying 
D) manufacturing 
E) industrial

Question 17

The second stage in the business buying decision process is to

Accepted Answer

A) search for products and suppliers. 
B) select the most appropriate product. 
C) develop product specifications. 
D) evaluate product and supplier performance. 
E) recognize the problem. 
A) search for products and suppliers. 
B) select the most appropriate product. 
C) develop product specifications. 
D) evaluate product and supplier performance. 
E) recognize the problem.

Question 18

Reciprocal dealing is widespread because it is one of the few avenues not regulated by the FTC, and it facilitates optimal purchases.

Accepted Answer

A) True 
 B)False

Question 19

Business customers are forced to satisfy personal goals in pursuits that lie outside their jobs.

Accepted Answer

A) True 
 B)False

Question 20

The four categories of consumer markets are producer, reseller, government, and institutional.

Accepted Answer

A) True 
 B)False

When purchasing products, business customers are especially concerned about quality, service, price, and supplier relationships.

In business markets, individuals or groups purchase products for one of three purposes. These purposes are

In what ways do environmental factors affect the business buying decision process?

A buyer for Macy's Department Stores orders handbags from a supplier because that supplier allows the buyer to maintain Macy's company policy of 30-day advance purchase notice. This is an example of ____ influence on the business buying decision process.

During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way.

Which of the following products is most likely to be purchased on the basis of contract negotiation?

Which of the following is true with respect to buyers in business markets?

Most business buying decisions are made by

If a business product exceeds specifications, so much the better; the customer can then be assured of obtaining a minimum level of acceptability.

Explain how purchase decisions for business products may be influenced by persons in a buying center.

Inspection refers to a purchasing method in which a representative unit is taken from a lot and evaluated, and the buying decision is based on the conclusions.

In a buying center, purchasing agents or purchasing managers are also known as

All of the following are important concerns of business customers except

Demand for business products is also known as ____ demand.

The second stage in the business buying decision process is to

Reciprocal dealing is widespread because it is one of the few avenues not regulated by the FTC, and it facilitates optimal purchases.

Business customers are forced to satisfy personal goals in pursuits that lie outside their jobs.

The four categories of consumer markets are producer, reseller, government, and institutional.

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets Segmentation and Evaluation

Consumer Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 8: Business Markets and Buying Behavior

When purchasing products, business customers are especially concerned about quality, service, price, and supplier relationships.

In business markets, individuals or groups purchase products for one of three purposes. These purposes are

In what ways do environmental factors affect the business buying decision process?

A buyer for Macy's Department Stores orders handbags from a supplier because that supplier allows the buyer to maintain Macy's company policy of 30-day advance purchase notice. This is an example of ____ influence on the business buying decision process.

During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way.

Which of the following products is most likely to be purchased on the basis of contract negotiation?

Which of the following is true with respect to buyers in business markets?

Most business buying decisions are made by

If a business product exceeds specifications, so much the better; the customer can then be assured of obtaining a minimum level of acceptability.

Explain how purchase decisions for business products may be influenced by persons in a buying center.

Inspection refers to a purchasing method in which a representative unit is taken from a lot and evaluated, and the buying decision is based on the conclusions.

In a buying center, purchasing agents or purchasing managers are also known as

All of the following are important concerns of business customers except

Demand for business products is also known as ____ demand.

The second stage in the business buying decision process is to

Reciprocal dealing is widespread because it is one of the few avenues not regulated by the FTC, and it facilitates optimal purchases.

Business customers are forced to satisfy personal goals in pursuits that lie outside their jobs.

The four categories of consumer markets are producer, reseller, government, and institutional.

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets Segmentation and Evaluation

Consumer Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters